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To support the expansion of technology companies in the real estate sector, Second Century Ventures has launched the REACH LATAM 2023 program. This program, part of a global network of executives with over 1.5 million members in the real estate sector, is one of six annual acceleration and scaling programs held in the United States, Australia, Canada, the United Kingdom, and Latin America. Notably, REACH LATAM 2023 encompasses 246 companies with a combined valuation of USD $8 trillion.
Through implementing educational strategies, mentoring, and market exposure, the REACH LATAM 2023 program aims to support technology companies looking to establish themselves in the real estate sector. The program opened in October, carefully selecting eight high-growth potential companies that, in November, became the first generation to graduate from the program. Among the notable achievements of these companies is accelerated growth and the consequent transformation of the industry in the region.
It is essential to highlight that during October, capital investment was made in all participating companies with the aim of facilitating future investments, also known as “follow-ons.”
Carlos Rousseau, Managing Partner of REACH LATAM, shared his enthusiasm for the graduation of the first generation of the program in Latin America, anticipating a significant change in how real estate business is conducted in the region and emphasizing the opportunities that will open up for real estate technology startups in Latin America.
The companies comprising the first graduated generation span various industries, including real estate, financial services, banking, home services, and insurance. These companies are as follows:
Ambana: Provides opportunities for fractional cross-border real estate investment in Latin America and the United States.
Koggi: Facilitates the connection between developers, financial institutions, and homebuyers to simplify home financing in Latam.
Kolonus: An integrated platform for residential property management that offers neighborhood maintenance services, access control, payments, and collaboration for residents or tenants.
Alogome: Assists homebuilders in increasing conversion rates through sales and marketing software, highlighting its user-friendly nature.
Prometeus: A centralized and verified analysis database is ideal for real estate professionals in Mexico.
Kipp Storage: Helps commercial property owners monetize vacant spaces, turning them into logistics and storage solutions in Chile and Mexico.
Ai360: Provides data and AI models to enhance decision-making in financing and investment in the real estate industry.
Beleta: Presents itself as a carefully selected marketplace for premium residential properties in Mexico.
Second Century Ventures announced that the REACH LATAM program will return in 2024, with applications available from December 2023. In this upcoming edition, between 8 and 10 companies will be selected, reaffirming the ongoing commitment to supporting innovation and growth in the Latin American real estate sector.
In terms of the real estate landscape in Latin America, Montevideo tops the list as the most expensive city to buy an apartment among the 14 examined in nine Latin American nations, according to the Real Estate Survey of Latin America (RIAL) by the Torcuato Di Tella University and Zonaprop. It is followed by three Mexican cities: CDMX, Monterrey, and Guadalajara. According to the report, the price per square meter in the cities analyzed increased by 5.2% between March and September of this year. Considering only the capital cities, the square meter value experienced an increase of 4.7%.
